Referral fees: An honest buck?

With the Jackson proposals threatening to ban referral fees paid by solicitors, Martin Friel ponders whether brokers would feel completely comfortable if they were asked to disclose such information

If there is one single proposal made by Lord Justice Jackson that will have brought brokers out in a cold sweat, it is his recommendation that referral fees paid by solicitors be banned. Now the good news for all you nervous brokers is that most observers believe, in practice, this will be difficult to enforce. However, it has raised questions around the extent to which many brokers rely on various types of referral fees. This is by no means a preserve of the legal expenses sector with brokers